Bank of England deputy governor Paul Tucker is to leave the institution after three decades, after being passed over for the top role in favour of Mark Carney.
The Bank has not confirmed his departure date, but said it was likely to be in the autumn, where he then “plans to spend a period of time in academia in the United States”.
It had been widely speculated that Mr Tucker would leave the institution after being passed over for the governor role in favour of the Bank of Canada’s Mark Carney, who replaces Mervyn King next month.
Mr Tucker said: “It has been an extraordinary honour to serve at the Bank of England over the past 30 years.
“I am very proud that, through the Bank and the wider central banking community, I have been able to make a contribution to monetary and financial stability. I will continue to do so in the coming months. I am looking forward to supporting Mark Carney as he arrives at the Bank.”
